Individual Report

Topic: Digital World

With the increasing use of technology, there has also been an increase in the development
in the field of technology. It has been really visible that the progress in technology has
reached a very high level. Since the development of digital computers in the year of 1940,
there has not been a year where we have not seen progress or an introduction of a new
technology or a concept within the area of digital technology. However, when we talk about
digital technology and the use of technology in this era, we directly move to a well-known
technology known as artificial intelligence. To describe artificial intelligence in simple
terms, we call it the application which involves data processing rapidly, allows predictive
analysis ,involves machine learning and allows us to simulate intelligent behavior and
implement the problem solving capabilities by the use of machines and software’s
(deepai.org). Many machines and computers are now designed to use artificial intelligence
so the programs and the machines that are using the concept of artificial intelligence are
mainly designed and programmed in a way that allows them to read , interpret and analyze
the information and the data which has been input using their predictive analytic
techniques which we also call machine learning and give us a result. Most people mistake
artificial intelligence as machine learning. However, they both are related but there is a
difference between them. Machine learning would be defined as the techniques that
artificial intelligence is using to improve the ability of a system and a program to interpret
the information better and respond in an efficient way (deepai.org)

Benefits of AI:

Technological
As the time passed, the importance of artificial intelligence increased as well because in
the current times the amount of data that is generated from humans and machines is far
beyond the capability and the ability of humans to interpret, absorb, analyze, and
provide a result and make the decisions strategically based on that data and this is
where the help from the artificial intelligence makes the work easier for them.
Around 63.5% of the world's population uses the internet which means that artificial
intelligence is playing a major role in controlling,responding and analyzing the digital
data available. According to Mashrur Chowdhury(Clemson University 2012) AI provides
the advantage of permanency, reliability and cost effectiveness, the most promising
application of AI has been its rigorous use of the internet as in search engines. Artificial
intelligence also makes it possible to develop learning capability which can be utilized to
further prolong the life and relevance of an application. AI has spread its branches in
almost every digital work. The virtual assistants which are commonly used are google,
alexa and siri. Since there is a rapid rise in modernization and the digital world, privacy
issues have also increased, even in this field AI has played a major role in different
ways. Such as it is used to spot cyber threats and possibly malicious activities. According
to Gaurav Belani “by using sophisticated algorithms, AI systems are being trained to
detect malware, run pattern recognition, and detect even the minutest behaviors of
malware or ransomware attacks before it enters the system.” . The contribution of
artificial intelligence in technology has been a lot. It has made work easier and efficient
for people. One such way artificial intelligence does that is by computerizing the
repetitive learning and discovery that is done through data. When humans deal with
repetitive data and information, it is common to have some human errors and mistakes
as well as the fatigue that many people do get from these types of works. However,
artificial intelligence specializes in performing these frequent high volume computerized
tasks and is able to do it without any error and gives reliable results. Another way in
which artificial intelligence helps technology is by the usage of its neural networks that
have multiple hidden layers. This allows them to analyze more and the deeper data.

Economical:
Artificial intelligence has not only provided beneficial services and results in the
technology industry, it has also helped in the economy and the financial industry as well.
As specified by dataprot.net that 37% of the world's industries are using AI tecnology
and The McKinsey Global Institute expects that around 70 % of companies would adopt
at least one type of AI technology by 2030, while less than half of large companies
would deploy the full range. Many financial services and tasks require artificial
intelligence concepts and programs in their everyday scenarios. One such example of
this is fraud detection. Banks and the financial services industry use the advanced
artificial intelligence tools and concepts to monitor as well as to detect the fraud or the
fraudulent payments and the car transactions which are done in real time.Artificial
intelligence also helps in the manufacturing industry where it allows the automation of
the building of vehicles and other large equipments and machines as well. It also helps
with the marketing department by analyzing the behaviors of the users and allowing the
businesses to effectively target the potential customers. Other than this normal
example, a more important way in which artificial intelligence contributes to the
economy is by allowing the economy to grow by increasing the production of goods and
services within a country. Many researchers have shown that there is a possibility of
artificial intelligence replacing the workers with the machines, which could lead to higher
production and therefore higher growth in the future. Another way in which artificial
intelligence contributes to the economy is by increasing the productivity within
companies. The productivity within a business will increase when the businesses
expand their labor force with the usage of artificial intelligence techniques and
technologies.These concepts show that artificial intelligence is playing an important role
for businesses and for the economy of a country.

Difference between AI and Human intelligence:

According to Sinha and Phatak (2019) artificial intelligence can be considered as the
study and design done by the intelligent agent using various kinds of tools by analyzing
the required based environment and producing such actions which helps in maximizing
success. However human intelligence can be defined as the quality of a human mind
which gets developed and advanced with past experiences. In simpler terms, we can
say that human intelligence and human behavior is all about their experiences and
incidents that they have learned from through trial and error and through many wrong
and right decisions. Whereas machines which are a part of artificial intelligence cannot
think , they perform the task which are programmed. Therefore, it makes it a fact that
artificial intelligence have a lesser thinking capacity depending on the situation,
comparatively to human intelligence.

According to David(March 18, 2021) human capabilities are more expansive. Humans
have the ability to envision, anticipate, feel, and judge changing conditions, which
enables people to transition from short-term to long-term concerns, in contrast to AI
abilities that are simply responsive to the facts provided. Such intelligence is required in
an open management system when working as a team or organization that is interacting
with an external environment. There might be situations where there would be sudden
changes and distorted information exchange; in such situations, human intelligence is
superior to AI. Another way in which human intelligence becomes superior to artificial
intelligence is in terms of different cognitive processes that they adapt to. These
cognitive processes allow humans to adapt to the newer environments and adjust to the
situations. Whereas, on the other hand, artificial intelligence is focusing on building
machines that can mimic and work according to the human behavior and perform
human like actions which are digital and not as analog as human behavior and their
capabilities.

Personal perspective:

“The development of full artificial intelligence could spell the end of the human race” —
Stephen Hawking
 I disagree with this statement; Human intelligence will always be superior to AI no
matter how smarter AI gets because humans are the ones programming such machines
to operate in different ways possible.

As rightly said by “Ray Kurzweil'' “we should not fear AI, rather it will act as a helping
hand in enhancing us”. smilarly AI has lead to the development and advancemet in
every field.

Many people believe that AI has taken over humans by destroying many jobs which is
not completely true, it has also led to creation of many job opportunities. According to
Thomas Helfrich the invention of the computer and the internet made people skeptical
about losing their jobs. Nevertheless, the widening adoption of these technologies has
created job opportunities in hardware manufacturing, software development, and cyber
security. Similarly for every clerk, security agent, or factory worker that loses their jobs,
there’ll be more data detectives, robotics engineers, machine managers, and
programmers gainfully employed.

Even in the future the development in AI will not lead to AI becoming dominant over
humans but it will further make it easier for humans to carry out different tasks.

Course of Action

After the preparation of this report and going through all the research and suggestions,
my recommendation is that we increase the use of artificial intelligence in the areas and
the industries where it is more needed and can perform the task more accurately and
efficiently. For example, in financial tasks , security tasks and in strategic decisions and
in many other industries where accurate data and information is needed to make
decisions. Along with that, there are many ways in which the use of artificial intelligence
can be increased and in turn, it will be more beneficial for us. Some of these actions
include investing more through the government in artificial intelligence research and
maintaining the mechanisms for human oversight and the control of artificial intelligence
as well as encouraging the greater access to data for researchers to make more
advances in this field. It is proven by many instances that artificial intelligence has been
working greatly in the areas where it is used. It is successfully used in fraud detections
in the financial systems. It is also helping in the human decision making for companies
without the human intervention, it also makes sure that the machines are working at a
greater capacity and efficiently. Along with this, they also use artificial intelligence in
stock exchanges by replacing the human decision making with high frequency trading.
And on a greater level, artificial intelligence has also played a very significant role in
National Defense. This all concludes to the fact that when it is used properly and in the
right instances, artificial intelligence is a great thing to work with and can be a significant
part of the future of industries and the state in technical terms.